The Sustainable Development Goals (SDGs) provide a realistic approach to navigate societies through and beyond the COVID-19 pandemic. However, the SDG agenda is not without flaws. Even before the pandemic, progress towards achieving the SDGs has been too slow. COVID-19 presents a stress test for the SDG approach. The SDG agenda provides three ‘logics’ that could help transform towards sustainable societies: (1) a governance logic that sets goals, adopts policies, and tracks progress to steer impacts; (2) a systems (nexus) logic that manages SDG interactions; and (3) a strategic logic that enables (micro-level) companies to develop strategies that impact (macro-level) policy goals. We discuss key hurdles that each of these SDG logics face. Transforming towards sustainable societies beyond COVID-19 requires that multinational enterprises and policymakers (better) apply these logics, and that they address operational challenges to overcome flaws in the present approach to the SDGs.

Companies play a decisive role in achieving the Sustainable Development Goals (SDGs). However, most of the world's sustainable development challenges are interconnected and systemic in their nature. How can companies ensure that their strategies effectively contribute to sustainable development? This interdisciplinary paper draws from the social‐ecological systems, corporate sustainability, and sustainability sciences literatures, in order to introduce a nexus approach to corporate sustainability. A nexus approach induces companies to assess and manage their positive and negative interactions with the SDGs—which may arise directly and indirectly—in an integrated manner. Instead of treating SDGs as isolated silos, a nexus approach aims to advance multiple SDGs simultaneously (creating “co‐benefits”) while reducing the risk that contributions to one SDG undermine progress on another (avoiding “trade‐offs”). Through managing the interactions between the SDGs, a nexus approach to corporate sustainability enables companies to improve their societal and environmental impacts. This nexus approach is a step towards developing a theory of sustainability management that helps companies improve their impacts on sustainable development. Such systemic corporate sustainability strategies are sorely needed to drive progress towards achieving the SDGs and to safeguard companies from “SDG‐washing.”

The success of the Sustainable Development Goals (SDGs) depends on solving the 'nexus' challenge: how can positive interactions between SDGs be optimised, and negative interactions minimised, in order to create co-benefits and reduce trade-offs? Due to their varying impacts on the SDGs, the economic activities undertaken by organisations present a key lever for operationalising this SDG-nexus. Yet the interactions between individual economic activities and the economic, social, and environmental dimensions of sustainable development have not been systematically assessed, thus creating a vital operational bottleneck to achieving the SDGs. This paper conducts a systematic review of 876 articles published between 2005 and 2019 to study the nexus between individual economic activities, sustainable development in general, and the SDGs in specific. It finds that studies on agricultural, industrial, and manufacturing activities predominantly report negative impacts on environmental development, while literature on services activities highlight economic and social contributions. Overall, most economic activities are expected to positively impact industrialization, infrastructure, and innovation [SDG 9] and economic productivity [SDG 8], while many help meet basic needs [SDGs 2, 3, 4, 6, 7, 11]. However, negative impacts are widespread, afflicting ecosystems [SDGs 14 and 15], climate change [SDG 13] and human health [SDG 3]. We synthesise positive and negative interactions between individual economic activities and SDG targets and discuss implications for: integrated (nexus) governance approaches to the SDGs; the role of the private sector in promoting sustainable development; and for improving statistical classifications to monitor economic activities' SDG impacts.

The alignment between corporate strategies and the Sustainable Development Goals (SDGs) can be an indicator of long-term sustainability success. But which types of companies are most, and which are least, aligned with the SDGs? This paper scores how 67 economic activities-as a proxy for companies' operations and the goods or services they deliver-interact with 59 SDG targets. It then uses network analysis to define which activities are most and least aligned with the SDG Agenda. The results reveal four types of corporate activities, each having a strategic sustainability imperative: (i) "core activities" predominantly generate positive, while having few negative, impacts on the SDGs, challenging companies to scale their contributions to further align with the SDG Agenda; (ii) "mixed activities" have moderate/high degrees of both negative/positive impacts, posing a decoupling imperative; (iii) "opposed activities" provide few benefits yet cause significant adverse impacts, implying that companies must transform in order to better align with the SDGs; and (iv) "peripheral activities" have immaterial positive and negative impacts, creating an imperative to explore innovative avenues for creating SDG contributions. Detailed network graphs are presented that map companies' interactions with the SDGs and guide the creation of corporate sustainability strategies. Policy implications include the potential for using companies' activities as a lever for adopting a "nexus approach" to the SDGs.

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